Arrowstreet Capital Limited Partnership Has $110.56 Million Stake in IDEXX Laboratories, Inc. $IDXX

Arrowstreet Capital Limited Partnership grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.0% during the second quarter, HoldingsChannel reports. The firm owned 206,137 shares of the company’s stock after buying an additional 15,227 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in IDEXX Laboratories were worth $110,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth $29,000. Ameritas Advisory Services LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $36,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $36,000. WPG Advisers LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at $37,000. Finally, NewSquare Capital LLC grew its position in IDEXX Laboratories by 87.5% during the 2nd quarter. NewSquare Capital LLC now owns 75 shares of the company’s stock worth $40,000 after acquiring an additional 35 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $830.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, November 4th. Wall Street Zen downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 29th. JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $675.00 to $775.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $765.00 to $805.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, UBS Group raised their price target on shares of IDEXX Laboratories from $710.00 to $750.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $730.50.

Insider Activity at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 9,425 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $703.34, for a total transaction of $6,628,979.50. Following the completion of the sale, the executive vice president owned 21,149 shares of the company’s stock, valued at $14,874,937.66. This trade represents a 30.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Trading Down 0.9%

IDXX opened at $725.93 on Thursday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $769.98. The company has a fifty day moving average of $672.31 and a 200-day moving average of $610.25. The stock has a market cap of $57.97 billion, a PE ratio of 57.57, a price-to-earnings-growth ratio of 4.35 and a beta of 1.67. The company has a quick ratio of 0.87, a current ratio of 1.18 and a debt-to-equity ratio of 0.24.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, November 3rd. The company reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.08. IDEXX Laboratories had a net margin of 24.65% and a return on equity of 67.78%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. IDEXX Laboratories has set its FY 2025 guidance at 12.810-13.010 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

About IDEXX Laboratories

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.